David Kalsang's cell phone distribution company, Malamal Inc., sought to expand its export operation in Asia. Frustrated with the application and approval process at a major bank, Kalsang approached Biz2Credit to help him get funding to expand his operation in India, where he expects big demand for 3G equipment (PDAs and handsets).
As an immigrant running a start-up company, Kalsang had difficulty securing a line of credit. Biz2credit helped him secure $50,000 line of credit from Sovereign Bank. He is now in the process of applying for additional $250,000 funding. With the infusion of capital, Kalsang has been able to travel back and forth to India for business meetings, expanded his office, and hired three new sales people. Biz2Credit also was able to put him in touch with two new key distributors in India. The result: Malamal has tripled its growth in the past year and hopes that the success will continue in 2011.
"Vamsi Yaramaka, owner of a group of gas stations in PA, secured quick funding through Biz2Credit for business expansion. Timely funding helped him revamp his business to meet growing customer demands."
"I had a backlog of work for the past 4-5 years," said Angel. "The jobs weren't breaking. With that the cash flow slowed down and I fell behind on my bills."
Arco Electrical Contractors
Navneet got in touch with the funding specialists at Biz2Credit and worked with his case manager to understand the best way to secure inventory financing. His case manager was able to get him an offer the next day.